This property was auctioned for $1.90 - of course there's a catch

Got spare change?

You could have bought this property.

The listing for the pair of flats in England, starting at £1 ($AU1.90), seems too good to be true. Like so many things in life in that category, it really, truly is.

Only cash buyers were allowed and no inspections were possible.

A tour of the home may have convinced a few buyers to put the coins towards a cup of coffee instead. However, the deal has been done, according to the Rightmove listing, with the flats – both with two bedrooms, a bathroom, a detached garage and outdoor space – marked as sold.

But for a buyer with gumption, they will have plenty of money left over after the contract is signed to hire a cleaner and a skip, and create something special in a country town where the median price is more than $285,000.

“No viewings are available, the property will be sold as seen & cash buyers only,” the Rightmove listing explains.

The sale sum is unknown.

Agency Pattison Estate Agents in the UK lifted the lid on the situation, creating a TikTok video that shows each room of the ramshackle flats, with the stipulation that the auction will begin at £1, a phone number for prospective buyers to call.

“Would you buy this property for £1?” the video is captioned. Pattinson conducted the auction.

In Elswick, Newcastle upon Tyne, the flats have shattered windows (so curtains blow out in the wind),  partially dismantled and dirty appliances in the kitchen, vast amounts of waist-deep garbage, a filthy bathroom, debris in living zones and bedrooms and an overgrown garden.

Tattered blinds on hang for dear life, a 1990’s computer sits idle on a desk, surrounded by old newspapers, shattered crates and boxes. Cracks are visible in the walls and even quick camera work in the video is enough to show the holes in the ceiling.

The property has gained media attention in Britain and aboard.

The median house price in Elswick, a rural village in Lancashire, on the west coast above Manchester, is £145,288 , according to UK-based listing marketplace Rightmove.

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